2004.02.19, Valmieras stikla šķiedra, RIG

JSC  ""Valmieras  stikla  šķiedra" Management Board meeting of February

18,  2004  analysed  the  company  performance in 2003 and approved the

results,  and  resolved  on  handing  over the prepared accounts to the

auditor.  The  meeting  also  reviewed the company development plan for

2005-2008  and  approved the investment programme EUR 30 million worth.

In  2004  the  investment project of building of a new fibre-glass felt

production unit will be implemented.